Capitol Insurance Companies Receives 2012 Novarica Impact Award

MIDDLETON, Wis., Nov. 29, 2012 /PRNewswire/ -- Capitol Insurance Companies (Capitol) has received a 2012 Novarica Impact Award in the Transformation category. Capitol was honored for its innovative approach to replacing legacy surety systems with the single modern platform, OneShield Dragon.

"This is a great honor for us, and we're excited to be named a standout in such an elite pool of insurer success stories," said Rick Allen, President of surety and fidelity operations. "When we took on this initiative, our goal was to create a system that would allow us to adapt quickly to changing business requirements and release new capability in both underwriting and distribution in an ever-changing business environment."

Capitol's project included converting 20 years of bond data from multiple legacy systems, and the alignment of Capitol Express (CapEx) – the company's online, self-service, agent-facing bond submission and renewal portal, which automates the bond underwriting and distribution processes.

"With the help of our partner and technology provider, OneShield, we have successfully increased efficiency and improved our time to market," said Troy Lethem, CIO and vice president of information services for Capitol Insurance Companies. "Ultimately, we were able to consolidate our surety operations onto a single system, back-office processing from four branch offices to one, and rapidly re-enter the contract surety market in less than seven months."

Novarica's 2012 Impact Awards showcase the best insurer case studies of 2012, which are judged by a panel of more than 50 insurer chief information officers (CIOs). Capitol is one of five insurer case studies to receive the inaugural Novarica Impact Award.

About Capitol Insurance Companies

Capitol has been insuring business owners since 1959. Capitol is a national underwriter of specialty insurance products in niche areas of the commercial property and casualty and the fidelity and surety markets. Through its operating entities, Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation and Platte River Insurance Company, Capitol offers high quality customer service in programs tailored to the needs of its customers' business and risk management strategies. Information on Capitol is available at www.capitol.net. Capitol has an A ("Excellent") rating from A.M. Best. Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation and Platte River Insurance Company are subsidiaries of Alleghany Insurance Holding LLC, whose parent company, Alleghany Corporation, is publicly traded on the New York Stock Exchange.

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SOURCE Capitol Insurance Companies